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Paytm may process Rs 600 bn in monthly bank transfers by end of this year
Posted on 14th May 2018
One97 Communications, the company that owns Paytm, plans to process Rs 600 billion in monthly bank transfers by the end of this year. The company is also planning to invest Rs 50 billion in its core business, expecting to increase the number of transactions from a billion to 2 billion.

Walmart-Flipkart deal a ‘perfect’ answer to those dismissive of Indian startups: Paytm’s Vijay Shekhar Sharma
Posted on 11th May 2018
Walmart Flipkart deal: After the world’s largest retailer Walmart picked up a 77% stake in homegrown giant Flipkart, online czar Vijay Shekhar Sharma of Paytm called it a perfect answer to those who were dismissive of Indian start-ups. Commenting on the humoungous valuation garnered by Flipkart in the deal, Vijay Shekhar Sharma tweeted, “This is 1 Lakh crore+, all cash deal ! vI call it, perfect answer to those who were dismissive of Indian startups in an open-for-all market.

Paytm Mall takes the fight offline, plans to invest $30 mn in 2018
Posted on 3rd May 2018
Taking the offline route to take on e-commerce biggies such as Flipkart and Amazon, Paytm Mall, which completed a year in April, is planning to invest $30 million over the year. It will develop and roll-out connected Point of Sale (PoS) solutions across 100,000 retail stores.

The PoS is a software-based system, which can be used on any smartphone or tablet. Shopkeepers can also take a PoS machine that Paytm Mall would provide for rent.


Paytm Bank claims 100m e-Verified accounts; says everything falling into place
Posted on 23rd April 2018
BENGALURU: Paytm Payments Bank claims that it now has over 100 million KYC-registered wallets — which includes both complete and minimum KYC (know your customer). This development comes even as there have been indications in the digital payments industry of a sharp fall in mobile-wallet users as customer authentication did not take off.

Paytm sees 3-fold jump in gold sales on Akshaya Tritiya
Posted on 20th April 2018
Mobile wallet firm Paytm today said its gold sales rose three-fold to 20 kg in a single day on the occasion of Akshaya Tritiya on April 18. Maximum sales were reported in Bengaluru, Delhi NCR, Hyderabad, Mumbai and Kolkata. Over 1.5 million customers transacted 20 kg of gold items, mainly 24 carat gold coins, on its platform on the Akshaya Tritiya day this year, compared with 6.5 kg gold items on the same day last year, Paytm said in a statement.

Paytm is open to data safety law: Vijay Shekhar Sharma
Posted on 14th April 2018
Mobile payments app Paytm is open to any kind of regulation, including one that the telecom regulator may want to bring in, to ensure that data of its consumers is safe and secure, its founder said, breaking away from the crowd of app makers, most of which have expressed their reservation against any regulation.

Get set to buy mutual funds from Paytm
Posted on 9th April 2018
Not many of us are used to buying mutual funds using our smart phones, even though there are some apps that facilitate this. But with Paytm, one of India’s largest mobile wallets, set to enter mutual fund distribution in a month’s time, many of us (Paytm claims to have around 300 million customers) would be able to buy mutual funds with a tap of a button. On 5 April, Mint carried a story on what Paytm could offer.

Paytm to enter mutual fund industry with a new app
Posted on 6th April 2018
Mumbai: This could be the Jio moment for India’s Rs22 trillion mutual funds industry. Asset management companies, which have as many as 18 million investors, are about to get a distributor in Paytm, which boasts of a customer base that is more than 16 times bigger.

Paytm, which claims to have a user base of more than 300 million, is set to kick off its mutual funds distribution business with the launch of its digital platform by the end of April.


Paytm Mall eyes $9 bn in GMV by 2018-end after $29 bn capital infusion
Posted on 5th April 2018
Taking its expansion plan in the fast lane after infusion of Rs 29 billion from SoftBank, Paytm Mall, the e-commerce company of Vijay Shekhar Sharma-led One97 Communications, is eyeing $9 billion in gross merchandise value (GMV) by the end of this year.

The company plans to double the number of products on the platform and increase the number of sellers. “The idea is to double down on the plan that we had in terms of the online to offline strategy.


Paytm Mall valued at $1.6-2 bn, raises Rs 29 bn from SoftBank and Alibaba
Posted on 3rd April 2018
E-commerce player Paytm Mall has raised about Rs 29 billion from SoftBank Investment Holdings and Alibaba.com Singapore in a deal valuing Paytm’s online shopping venture at $2 billion.

According to a regulatory filing by Paytm Mall, an aggregate amount of $400 million (about Rs 26 billion) has come from SB Investment Holdings (UK) and its affiliates, including SoftBank Vision Fund.


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